05/12/2016 Live Update

[Cobra]

this bull shall have legs

[BullBear52x]

Sell @ 62.5

[BullBear52x]

last stand for short term bears.

[BullBear52x]

2 for 2 today, let see my 3rd time charm today

[DellGriffith]

I had a buy signal about an hour ago but theres no way im going long with retail sales data coming out tomorrow because it may not pay for 2 days. unfortunately, this one paid big in an hour.

[brokebybernacke2]

bull hope, hourly looks like there's room to mid '80s at least on sp...if apple bottom today, big fruit good for short time buy to fill that gap round 100 take market with it??

[fehro]

VIX looking weak.. .. possible bull flag minor SPX 20d just 11 points higher

[Wallstreetrader]

61.8 ?no
These inverted could trigger something explosive move

[BullBear52x]

It's clear bulls will not give back today, now for the bears it's damage control time.

[fehro]

SPX nibble tiny long.. so close to the 50d.. "should" tag it..

cover a little here.. 20d .. sooo close.. only 8 points

[JFR]

From John Murphy ...

NASDAQ COMPOSITE FAILS TEST OF MOVING AVERAGE LINES ... Yesterday's message expressed concern about the Power Shares Nasdaq 100 (QQQ) remaining below its moving average lines. Chart 8 shows the Nasdaq Composite Index in a similar situation. In fact, today's selling shows the $COMPQ failing a test of its two moving average lines. That's a setback for it and the rest of the market. The inability of the Nasdaq to clear those lines has set up a dangerous "negative divergence" between it and the Dow the S&P 500. Both of those indexes have been trading above their 50-day averages. But that may not last for long. The "relative strength ratio" on top of Chart 8 divides the Nasdaq by the S&P 500. That ratio has fallen to the lowest level in more than a year. That's normally a bad sign for the S&P 500 as well as the Nasdaq.

[Al_Dente]

Big Persons Hour, early
Watch for potential “hanging man” at close:
“In theory, it is supposed to be a bearish reversal but it actually is a bullish continuation pattern
…. an upward breakout only occurs 59% of the time. I consider that almost random."
http://thepatternsite.com/HangingMan.html

[JFR]

DOW AND S&P 500 THREATEN 50-DAY LINES ... The Nasdaq market is leading the rest of the market lower today. The next two charts show the Dow Industrials and the S&P 500 threatening their 50-day average. A close below that line would turn the market's short-term trend lower. Apple is the biggest loser in the Dow. Their falling MACD lines increase the odds for lower prices. That might be enough to push both market indexes back toward their 200-day lines. A cautious market also explains why money is flowing into consumer staples and utilities today. -- John Murphy

[Denali92]

this bull shall have legs

GREAT call on the 8 hourly bars....

These rallies on the Thursday before opex week have been AMAZING - that is 4 months in a row that they have started between 12 and 3pm and the SPY has NEVER traded lower than any of those lows since Feb....

Thursday, Feb 11th - 181.09
Thursday, March 10th - 197.38
Thursday, April 7th - 203.09

Now Thursday, May 12th - 205.37?

Must admit I was slightly skeptical that it would happen 4 months in a row - so I missed it....

-D

[BullBear52x]

Bulls are not that strong either, Wow, Negative divergence intraday, will see I may not have to take lost on my last entry here, sweeeeettttt...

[fehro]

bulls eyeing the insane close.. another invs H&S target 209ish .. slam dunk close over the 20d 207.66.. if it goes.. or gap it tomorrow..

[BullBear52x]

A close in between 54.5-61 /ES or 64-68 on SPX will be very confusing short term.

[Trades with cats]

If this move has worked hard at being confusing than doesn't that point to an Elliot Wave ID? Like a four, suck in both bulls and bears then crush them with a five going the other way.

[fehro]

hammer or doji… SPY vs SPX off the 50d SMA

[BullBear52x]

https://www.youtube.com/watch?v=LJ7qXHjxj_0